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About Electric Cars in India

The electric car market in India is growing rapidly in line with global patterns. AS per a recent study, it is estimated that by 2027, there will be 6.3 million electric cars sold every year in India. This is a whopping compounded annual growth rate (CAGR) of 44% between 2020-2027. Associated infrastructure such as charging stations and batteries are also expected to grow at a similar pace. As a result, most major car manufacturers in India are getting on the electric vehicle (EV) bandwagon and electric car price in India has been steadily going down. Read on to find out which are the major electric cars in India.

List Of Best Electric Car In India in 2021

1. Tata Nexon EV

Tata Nexon EV is the best selling electric car in India with over 2600 units sold since its launch in January 2020. The subcompact crossover SUV produces 94.7 KW power and 245 Nm torque from its 127HP engine. Its 30.2 Kwh battery has a claimed range of 300 km and can be fully charged in 8 hours using an AC charger. Priced at Rs. 13.99 Lakhs upwards, not only does the Nexon EV fall on the lower end of the electric car price band, but it has also been rated as one of the safest cars in India.

Car Name

Tata Nexon EV

On-Road Price

Rs. 13.99 to 16 Lakhs

Range

300 kms on a single charge

Horsepower

127.0 Bhp

Transmission

Automatic

2. MG ZS EV

With over 1200 units sold in 2020, the MG ZS EV is the second most popular electric car in India. With a price starting from Rs. 21 Lakhs, the SUV targets the luxury electric car segment in India and is situated on the upper end of the electric car price band in India. Its 44.5 Kwh battery produces a peak power of 140.8 Bhp and offers a driving range of 419 km per full charge. It takes between 6-8 hours to be fully charged.

Car Name

MG ZS EV

On-Road Price

Rs. 20.99 to 24.18 Lakhs

Range

419 kms on a single charge

Horsepower

140.8 Bhp

Transmission

Automatic

3. Tata Tigor EV

Another electric offering from Tata Motors, the Tigor EV is the cheapest electric car in India with prices starting from Rs. 9.44 Lakhs. The compact sedan comes with a 21.5 kWh battery offering a range of 213 kms on a single charge and targets the budget segment of the market for whom electric car price is a major deciding factor.

Car Name

Tata Tigor EV

On-Road Price

Rs. 10.58 to 10.90 Lakhs

Range

213 kms on a single charge

Horsepower

40.23 Bhp

Transmission

Automatic

4. Mahindra E-Verito

Priced at a little over Rs. 10 Lakhs, Mahindra E-Verito is another affordable car placed towards the lower end of the electric car price spectrum in India. With a stated running cost of just Rs. 1.15 per km, the E-Verito is one of the most cost-effective electric cars in India. Its 288 aH Lithium-ion battery offers a driving range of 110 km on a single charge and requires a charging time of 11 hours 30 minutes to be fully charged.

Car Name

Mahindra E-Verito

On-Road Price

Rs. 10.15 to 10.45 Lakhs

Range

110 kms on a single charge

Horsepower

41..57 Bhp

Transmission

Automatic

5. Hyundai Kona EV

The Kona EV by Hyundai Motors is a stylish SUV that is also high on performance. Its 39.2 kWh battery delivers a peak power of 134.1 bhp and offers a driving range of up to 452 km on a single full charge. Its charging time is stated to be approximately 6 hours 10 minutes. Priced upwards of Rs. 23 Lakhs, the Kona is positioned as a direct competitor to the MG ZS EV at the upper end of the electric car price range in India.

Car Name

Hyundai Kona EV

On-Road Price

Rs. 23.75 to 23.94 Lakhs

Range

452 kms on a single charge

Horsepower

134 Bhp

Transmission

Automatic

Insurance for Electric Cars

As of now, there is no separate insurance policy for electric cars in India. However as the demand for electric cars picks up, many insurance providers are designing tailor-made insurance policies for electric cars. The Insurance Regulatory and Development Authority of India (IRDAI), with an aim of incentivizing electric cars in India, has mandated that electric cars will be entitled to a 15% discount on insurance as compared to petrol or diesel cars. Finserv MARKETS has car insurance plans for electric cars with comprehensive coverage and low premiums. From cashless claim settlement to options to customize plans with add on covers, there’s more value for money.

Latest Electric Cars News

  • Demand for electric cars in India doubled in three years.

According to latest data, the demand for electric vehicles in India has doubled between 2017 to 2020, with the number of electric vehicles on Indian roads jumping sharply to 1,67,041 units in 2020 from a mere 69,012 units in 2017-18. This increase in demand has been attributed by the government to rising fuel prices as well as electric vehicle friendly policies of the government.

  • Tesla rival Triton sets up shop in India to manufacture electric vehicles.

American electric vehicle maker Triton has announced plans to enter the Indian EV market close on the heels of Tesla making a similar announcement earlier this year. Triton aims to make India the hub for its EV manufacturing facility catering to other markets such as Bangladesh, Middle-East, and Africa as well.

  • Jaguar Land Rover launches its first electric car in India priced at Rs. 16 crore.

Tata-owned Jaguar Land Rover has announced its first electric car for the Indian market - the I-PACE. Priced at Rs. 1.6 crores, the I-PACE is one of the costliest EVs in India. Jaguar Land Rover aims at converting 60% of its product offering to emission free platforms by 2030.

Check Out Car Insurance Plans Available at Finserv MARKETS

FAQs on Electric Cars in India

  • ✔️What is the price of electric cars in India?

    Electric car prices in India fall mostly within a range of Rs. 9 Lakhs to Rs. 25 Lakhs as of March 2021. With advances in technology, the prices of electric cars are expected to come down further.

  • ✔️How do I get my electric car insured?

    Electric cars can be insured in the same way as petrol and diesel cars are insured in India. One needs to purchase motor insurance from a reliable insurance provider. Finserv MARKETS is one of the leading platforms providing insurance in India, making insurance for electric cars also available.

  • ✔️Why do I need to insure my electric car?

    It is mandatory by law to have motor insurance in India. Besides, motor insurance also protects you from the high costs of repair and replacement in case of damage or theft of your car. Given the relatively high electric car prices in India, it is prudent to have your electric car insured.

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